MPS Limited (BSE:532440) announces a share repurchase program. Under the program, the company will repurchase up to 566,666 equity shares, representing 3.04% of its issued share capital for INR 340 million. The shares will be repurchased at a price of INR 600 million. The company has fixed August 24, 2020, as the record date for the offer. The buyback will be met out of internal accruals, retained earnings, cash and bank balances and investments made by the company. The purpose of the program is to return surplus funds to the equity shareholder/beneficial owner of the equity shares, to improve financial ratios and to achieve an optimal capital structure. The company fixed August 24, 2020, as the record date for the offer. The program is subject to receipt of such approvals, permissions and sanctions, as may be required under the applicable laws including from the SEBI and/ or the NSE and BSE. The repurchases will commence from September 16, 2020, and valid till September 29, 2020. As of June 30, 2020, the company has 18,616,926 are issued and outstanding.